Crude Archive

Reuters: Crude update

[Skip to the end] The ‘demand destruction’ still leaves a net increase in demand, just smaller than anticipated. While the US is using a tad less gasoline, consumption elsewhere has picked up. And this is with a weak world economy: NYMEX-Oil steadies on OPEC output cut by Rebekah Kebede Meanwhile, the International ...Read More

Re: Crude oil pricing

[Skip to the end] (an email exchange) >    >   On Thu, Aug 7, 2008 at 7:15 AM, Scott wrote: >    >   crude moves further in backwardation. >    Right, indicating futures buying subsiding and inventories not above desired levels for commerce. >    >   CL vs brent now 160 over vs 120 under 2 weeks ago! >    ...Read More

Re: UK economy

[Skip to the end] (an email exchange) >    >    >   On Wed, Aug 6, 2008 at 12:25 AM, Prof. P. Arestis wrote: >    >   Dear Warren, >    >   Just received the piece below. The situation over here is getting >   worse but pretty much as expected. >    >   Recession signalled by key indicators of British economy >    ...Read More

Looks like vitol was holding the large crude position

[Skip to the end] (an email) >    >   W >   you can tell everyone it is vitol but don’t give the source. >   looks like traditional speculation; not the masters index speculation. >    >    [top] ...Read More

Re: Resource allocation

[Skip to the end] >    >   On 8/3/08, Craig wrote: >    >   Ok. And the irony is as prices fall, demand increases again. >   Until consuming governments get their head around that fact >   and put some kind of floor under crude prices to incent >   substitution (which may be beyond their thinking and/or impossible >   politically), it ...Read More

Reuters: House rejects selling 10% of SPR

[Skip to the end] Just saw that the house just rejected this. Looks like it was one more reason for technical weakness in crude, along with the vote to limit speculation and the oil storage company’s futures and cash market issues and bankruptcy. White House threatens veto on bill to sell govt ...Read More

Re: Oil as a % of global GDP

(an email exchange) >    >   On Sun, Jul 20, 2008 at 10:46 PM, Russell wrote: >    >   Brad Setser, at Follow the Money, presents a couple of graphs on changes in >   oil export revenue: The Oil Shock of 2008. >    >   The following graph shows the Year-over-year change in oil exports as a >   percent of ...Read More

Crude sell off

[Skip to the end] Seems like a sale ahead of possible Congressional action to limit ‘speculation’. Not sure how big the dip might be, but yet another buying op as the choice remains – pay the Saudis their asking price or shut the lights off. The price only goes down if the ...Read More

Deflation forecast

[Skip to the end] This is the deflation argument. (See below) Never seen a split quite like this with calls for both accelerating inflation and outright deflation. Which will it be? My guess is inflation for the US as our friendly external monopolist continues to squeeze us with ever higher crude prices. ...Read More

The Independent: UK Bank deputy chief warning

Bank deputy chief warns of market trouble to come by Ben Russell, Political Correspondent and Sean O’Grady Britain is facing the risk of renewed turmoil in the financial markets, the new deputy governor of the Bank of England warned yesterday. Professor Charlie Bean, the deputy governor for monetary policy and a former ...Read More